ACB

Listed Company · HOSE

Price

23,500

Latest close

03 Apr 2026

P/E 28.6x

EPS (TTM) 823

ROE (TTM) —

P/B —

BVPS (Latest) —

ROA (TTM) —

What Is Changing

ACB is entering a phase where earnings quality matters more than pure top-line recovery. The next question is whether current profit momentum can hold through the next cycle.

Quarterly Net Income decreased 34.9% QoQ to VND 2,784.7bn in 2025Q4.

Metric	2025
Revenue	26,905.7
Growth	—
Net Income	15,624.7
Net Margin	58.07%

Metric	Q4'25	Q3'25	Q2'25	Q1'25
Revenue	7,093.3	6,769.7	6,683.8	6,358.9
Growth	+5%	+1%	+5%	—
Net Income	2,784.7	4,280.6	4,881.2	3,678.3
Net Margin	39.26%	63.23%	73.03%	57.84%

Financial Statements

Profitability

Net margin reached 58.07% and still needs validation through the next few periods.

Balance Sheet

Inventory stood at 0.0bn, liabilities at 931,330.4bn, and equity at 94,519.7bn.

Cash Flow

Compare operating cash flow against investment needs to judge growth quality.

None

Item	2025
Revenue	58,755.8
Revenue Deductions	31,850.1
Net Revenue	26,905.7
Cost of Goods Sold	0.0
Gross Profit	0.0
Financial Income	0.0
Financial Expenses	0.0
Interest Expense	0.0
Share of Associates and Joint Ventures	0.0
Selling Expenses	0.0
General and Administrative Expenses	10,924.4
Operating Profit	22,873.5
Other Income	2,228.7
Other Expenses	1,205.4
Other Profit	1,023.3
Profit Before Tax	19,538.8
Current Income Tax Expense	3,914.0
Deferred Income Tax Expense	0.1
Net Income	15,624.7
Non-controlling Interest	0.0
Profit Attributable to Parent	15,624.7
Earnings per Share	3,022.00
Diluted EPS	0.00

Item	2025
A. SHORT-TERM ASSETS (100=110+120+130+140+150)	0.0
I. Cash and cash equivalents	0.0
1. Cash	0.0
2. Cash equivalents	0.0
II. Short-term financial investments	0.0
1. Available for sale securities	6,708.4
2. Provision for diminution in value of available for sale securities (*)	-163.5
3. Held to maturity investments	0.0
III. Short-term receivables	0.0
1. Short-term trade accounts receivable	0.0
2. Short-term prepayments to suppliers	0.0
3. Short-term inter-company receivables	0.0
4. Construction contract progress receipts due from customers	0.0
5. Short-term loan receivables	0.0
6. Other short-term receivables	0.0
7. Provision for short-term doubtful debts (*)	0.0
8. Assets awaiting resolution	0.0
IV. Inventories	0.0
1. Inventories	0.0
2. Provision for decline in value of inventories	0.0
V. Other short-term assets	0.0
1. Short-term prepayments	0.0
2. Value added tax to be reclaimed	0.0
3. Taxes and other receivables from state authorities	0.0
4. Government bonds	0.0
5. Other short-term assets	0.0
B. LONG-TERM ASSETS (200=210+220+240+250+260+270)	0.0
I. Long-term receivables	0.0
1. Long-term trade receivables	0.0
2. Long-term prepayments to suppliers	0.0
3. Capital at inter-company	0.0
4. Long-term inter-company receivables	0.0
5. Long-term loan receivables	0.0
6. Other long-term receivables	0.0
7. Provision for long-term doubtful debts	0.0
II. Fixed assets	5,438.6
1. Tangible fixed assets	3,200.5
- Cost	6,806.1
- Accumulated depreciation	-3,605.6
2. Financial leased fixed assets	0.0
- Cost	0.0
- Accumulated depreciation	0.0
3. Intangible fixed assets	2,238.1
- Cost	3,117.5
- Accumulated depreciation	-879.5
III. Investment properties	149.7
- Cost	149.7
- Accumulated depreciation	-0.0
IV. Long-term assets in progress	0.0
1. Long-term production in progress	0.0
2. Construction in progress	0.0
V. Long-term financial investments	74.7
1. Investments in subsidiaries	0.0
2. Investments in associates, joint-ventures	0.0
3. Investments in other entities	0.0
4. Provision for diminution in value of long-term investments	-159.0
5. Held to maturity investments	0.0
6. Other long-term investments	233.7
VI. Other long-term assets	14,811.1
1. Long-term prepayments	0.0
2. Deferred income tax assets	17.3
3. Long-term equipment, supplies, spare parts	0.0
4. Other long-term assets	1,414.3
5. Goodwill	0.0
VII. Goodwill (before 2015)	0.0
TOTAL ASSETS (280=100+200)	1,025,850.1
A. LIABILITIES (300=210+330)	931,330.4
I. Short -term liabilities	0.0
1. Short-term trade accounts payable	0.0
2. Short-term advances from customers	0.0
3. Taxes and other payables to state authorities	0.0
4. Payable to employees	0.0
5. Short-term acrrued expenses	0.0
6. Short-term inter-company payables	0.0
7. Construction contract progress payments due to suppliers	0.0
8. Short-term unearned revenue	0.0
9. Other short-term payables	0.0
10. Short-term borrowings and financial leases	0.0
11. Provision for short-term liabilities	0.0
12.. Bonus and welfare fund	0.0
13. Price stabilization fund	0.0
14. Government bonds	0.0
II. Long-term liabilities	0.0
1. Long-term trade payables	0.0
2. Long-term advances from customers	0.0
3. Long-term acrrued expenses	0.0
4. Inter-company payables on business capital	0.0
5. Long-term inter-company payables	0.0
6. Long-term unearned revenue	0.0
7. Other long-term liabilities	15,892.0
8. Long-term borrowings and financial leases	0.0
9. Convertible bonds	0.0
10. Preferred stock (Debts)	0.0
11. Deferred income tax liabilities	0.0
12. Provision for long-term liabilities	0.0
13. Fund for technology development	0.0
14. Provision for severance allowances	0.0
B. OWNER'S EQUITY (400=410+430)	94,519.7
I. Owner's equity	51,638.3
1. Owner's capital	51,366.6
- Common stock with voting right	0.0
- Preferred stock	0.0
2. Share premium	271.8
3. Convertible bond option	0.0
4. Other capital of owners	0.0
5. Treasury shares	0.0
6. Assets revaluation differences	0.0
7. Foreign exchange differences	0.0
8. Investment and development fund	0.0
9. Fund to support corporate restructuring	0.0
10. Other funds from owner's equity	0.0
11. Undistributed earnings after tax	25,298.3
- Accumulated retained earning at the end of the previous period	0.0
- Undistributed earnings in this period	0.0
12. Reserves for investment in construction	0.0
13. Minority's interest	0.0
14. Financial reserves	0.0
II. Other resources and funds	0.0
1. Subsidized not-for-profit funds	0.0
2. Funds invested in fixed assets	0.0
C. MINORITY'S INTEREST	0.0
TOTAL OWNER'S EQUITY AND LIABILITIES (440=300+400+500)	1,025,850.1

Item	Q4'25	Q3'25	Q2'25	Q1'25
Revenue	16,080.4	15,049.4	14,298.7	13,327.3
Revenue Deductions	8,987.2	8,279.7	7,614.8	6,968.4
Net Revenue	7,093.3	6,769.7	6,683.8	6,358.9
Cost of Goods Sold	0.0	0.0	0.0	0.0
Gross Profit	0.0	0.0	0.0	0.0
Financial Income	0.0	0.0	0.0	0.0
Financial Expenses	0.0	0.0	0.0	0.0
Interest Expense	0.0	0.0	0.0	0.0
Share of Associates and Joint Ventures	0.0	0.0	0.0	0.0
Selling Expenses	0.0	0.0	0.0	0.0
General and Administrative Expenses	2,782.4	2,713.9	2,736.2	2,691.9
Operating Profit	5,423.7	5,670.7	6,556.4	5,222.7
Other Income	410.2	370.7	1,163.4	284.5
Other Expenses	366.7	385.9	350.7	102.1
Other Profit	43.4	-15.3	812.7	182.4
Profit Before Tax	3,467.0	5,381.8	6,093.3	4,596.6
Current Income Tax Expense	663.3	1,081.5	1,210.7	958.6
Deferred Income Tax Expense	19.1	19.7	1.5	-40.2
Net Income	2,784.7	4,280.6	4,881.2	3,678.3
Non-controlling Interest	0.0	0.0	0.0	0.0
Profit Attributable to Parent	2,784.7	4,280.6	4,881.2	3,678.3
Earnings per Share	0.00	0.00	0.00	823.00
Diluted EPS	0.00	0.00	0.00	0.00

Item	Q4'25	Q3'25	Q2'25	Q1'25
A. SHORT-TERM ASSETS (100=110+120+130+140+150)	0.0	0.0	0.0	0.0
I. Cash and cash equivalents	0.0	0.0	0.0	0.0
1. Cash	0.0	0.0	0.0	0.0
2. Cash equivalents	0.0	0.0	0.0	0.0
II. Short-term financial investments	0.0	0.0	0.0	0.0
1. Available for sale securities	6,708.4	6,072.6	5,160.0	4,479.7
2. Provision for diminution in value of available for sale securities (*)	-163.5	-154.2	-201.6	-172.1
3. Held to maturity investments	0.0	0.0	0.0	0.0
III. Short-term receivables	0.0	0.0	0.0	0.0
1. Short-term trade accounts receivable	0.0	0.0	0.0	0.0
2. Short-term prepayments to suppliers	0.0	0.0	0.0	0.0
3. Short-term inter-company receivables	0.0	0.0	0.0	0.0
4. Construction contract progress receipts due from customers	0.0	0.0	0.0	0.0
5. Short-term loan receivables	0.0	0.0	0.0	0.0
6. Other short-term receivables	0.0	0.0	0.0	0.0
7. Provision for short-term doubtful debts (*)	0.0	0.0	0.0	0.0
8. Assets awaiting resolution	0.0	0.0	0.0	0.0
IV. Inventories	0.0	0.0	0.0	0.0
1. Inventories	0.0	0.0	0.0	0.0
2. Provision for decline in value of inventories	0.0	0.0	0.0	0.0
V. Other short-term assets	0.0	0.0	0.0	0.0
1. Short-term prepayments	0.0	0.0	0.0	0.0
2. Value added tax to be reclaimed	0.0	0.0	0.0	0.0
3. Taxes and other receivables from state authorities	0.0	0.0	0.0	0.0
4. Government bonds	0.0	0.0	0.0	0.0
5. Other short-term assets	0.0	0.0	0.0	0.0
B. LONG-TERM ASSETS (200=210+220+240+250+260+270)	0.0	0.0	0.0	0.0
I. Long-term receivables	0.0	0.0	0.0	0.0
1. Long-term trade receivables	0.0	0.0	0.0	0.0
2. Long-term prepayments to suppliers	0.0	0.0	0.0	0.0
3. Capital at inter-company	0.0	0.0	0.0	0.0
4. Long-term inter-company receivables	0.0	0.0	0.0	0.0
5. Long-term loan receivables	0.0	0.0	0.0	0.0
6. Other long-term receivables	0.0	0.0	0.0	0.0
7. Provision for long-term doubtful debts	0.0	0.0	0.0	0.0
II. Fixed assets	5,438.6	5,400.7	5,396.6	5,311.9
1. Tangible fixed assets	3,200.5	3,209.4	3,223.4	3,149.0
- Cost	6,806.1	6,719.9	6,683.9	6,522.5
- Accumulated depreciation	-3,605.6	-3,510.5	-3,460.5	-3,373.5
2. Financial leased fixed assets	0.0	0.0	0.0	0.0
- Cost	0.0	0.0	0.0	0.0
- Accumulated depreciation	0.0	0.0	0.0	0.0
3. Intangible fixed assets	2,238.1	2,191.3	2,173.2	2,163.0
- Cost	3,117.5	3,040.2	2,991.7	2,950.9
- Accumulated depreciation	-879.5	-848.8	-818.6	-788.0
III. Investment properties	149.7	103.5	62.3	177.0
- Cost	149.7	103.5	62.3	177.0
- Accumulated depreciation	-0.0	0.0	0.0	0.0
IV. Long-term assets in progress	0.0	0.0	0.0	0.0
1. Long-term production in progress	0.0	0.0	0.0	0.0
2. Construction in progress	0.0	0.0	0.0	0.0
V. Long-term financial investments	74.7	126.8	124.9	126.8
1. Investments in subsidiaries	0.0	0.0	0.0	0.0
2. Investments in associates, joint-ventures	0.0	0.0	0.0	0.0
3. Investments in other entities	0.0	0.0	0.0	0.0
4. Provision for diminution in value of long-term investments	-159.0	-166.1	-168.0	-166.1
5. Held to maturity investments	0.0	0.0	0.0	0.0
6. Other long-term investments	233.7	292.9	292.9	292.9
VI. Other long-term assets	14,811.1	13,298.7	11,997.9	10,679.6
1. Long-term prepayments	0.0	0.0	0.0	0.0
2. Deferred income tax assets	17.3	36.3	56.0	57.5
3. Long-term equipment, supplies, spare parts	0.0	0.0	0.0	0.0
4. Other long-term assets	1,414.3	1,374.7	1,269.6	1,276.0
5. Goodwill	0.0	0.0	0.0	0.0
VII. Goodwill (before 2015)	0.0	0.0	0.0	0.0
TOTAL ASSETS (280=100+200)	1,025,850.1	948,549.2	933,541.4	891,674.6
A. LIABILITIES (300=210+330)	931,330.4	857,133.7	846,330.8	804,600.0
I. Short -term liabilities	0.0	0.0	0.0	0.0
1. Short-term trade accounts payable	0.0	0.0	0.0	0.0
2. Short-term advances from customers	0.0	0.0	0.0	0.0
3. Taxes and other payables to state authorities	0.0	0.0	0.0	0.0
4. Payable to employees	0.0	0.0	0.0	0.0
5. Short-term acrrued expenses	0.0	0.0	0.0	0.0
6. Short-term inter-company payables	0.0	0.0	0.0	0.0
7. Construction contract progress payments due to suppliers	0.0	0.0	0.0	0.0
8. Short-term unearned revenue	0.0	0.0	0.0	0.0
9. Other short-term payables	0.0	0.0	0.0	0.0
10. Short-term borrowings and financial leases	0.0	0.0	0.0	0.0
11. Provision for short-term liabilities	0.0	0.0	0.0	0.0
12.. Bonus and welfare fund	0.0	0.0	0.0	0.0
13. Price stabilization fund	0.0	0.0	0.0	0.0
14. Government bonds	0.0	0.0	0.0	0.0
II. Long-term liabilities	0.0	0.0	0.0	0.0
1. Long-term trade payables	0.0	0.0	0.0	0.0
2. Long-term advances from customers	0.0	0.0	0.0	0.0
3. Long-term acrrued expenses	0.0	0.0	0.0	0.0
4. Inter-company payables on business capital	0.0	0.0	0.0	0.0
5. Long-term inter-company payables	0.0	0.0	0.0	0.0
6. Long-term unearned revenue	0.0	0.0	0.0	0.0
7. Other long-term liabilities	15,892.0	13,971.8	13,121.4	12,143.6
8. Long-term borrowings and financial leases	0.0	0.0	0.0	0.0
9. Convertible bonds	0.0	0.0	0.0	0.0
10. Preferred stock (Debts)	0.0	0.0	0.0	0.0
11. Deferred income tax liabilities	0.0	0.0	0.0	0.0
12. Provision for long-term liabilities	0.0	0.0	0.0	0.0
13. Fund for technology development	0.0	0.0	0.0	0.0
14. Provision for severance allowances	0.0	0.0	0.0	0.0
B. OWNER'S EQUITY (400=410+430)	94,519.7	91,415.5	87,210.6	87,074.6
I. Owner's equity	51,638.3	51,638.3	51,638.3	44,938.4
1. Owner's capital	51,366.6	51,366.6	51,366.6	44,666.6
- Common stock with voting right	0.0	0.0	0.0	0.0
- Preferred stock	0.0	0.0	0.0	0.0
2. Share premium	271.8	271.8	271.8	271.8
3. Convertible bond option	0.0	0.0	0.0	0.0
4. Other capital of owners	0.0	0.0	0.0	0.0
5. Treasury shares	0.0	0.0	0.0	0.0
6. Assets revaluation differences	0.0	0.0	0.0	0.0
7. Foreign exchange differences	0.0	-319.5	-243.8	-65.4
8. Investment and development fund	0.0	0.0	0.0	0.0
9. Fund to support corporate restructuring	0.0	0.0	0.0	0.0
10. Other funds from owner's equity	0.0	0.0	0.0	0.0
11. Undistributed earnings after tax	25,298.3	25,307.1	21,026.5	27,412.0
- Accumulated retained earning at the end of the previous period	0.0	0.0	0.0	0.0
- Undistributed earnings in this period	0.0	0.0	0.0	0.0
12. Reserves for investment in construction	0.0	0.0	0.0	0.0
13. Minority's interest	0.0	0.0	0.0	0.0
14. Financial reserves	0.0	0.0	0.0	0.0
II. Other resources and funds	0.0	0.0	0.0	0.0
1. Subsidized not-for-profit funds	0.0	0.0	0.0	0.0
2. Funds invested in fixed assets	0.0	0.0	0.0	0.0
C. MINORITY'S INTEREST	0.0	0.0	0.0	0.0
TOTAL OWNER'S EQUITY AND LIABILITIES (440=300+400+500)	1,025,850.1	948,549.2	933,541.4	891,674.6

Item	Q4'25	Q3'25	Q2'25	Q1'25
Profit Before Tax	0.0	0.0	0.0	0.0
Depreciation of Fixed Assets and Investment Property	0.0	0.0	0.0	0.0
Provision (Increase)/Reversal	0.0	0.0	0.0	0.0
FX Gain/Loss from Revaluation of Monetary Items	0.0	0.0	0.0	0.0
Gain/Loss from Investment Activities	0.0	0.0	0.0	0.0
Interest Expense	0.0	0.0	0.0	0.0
Gain/Loss on Disposal of Fixed Assets	0.0	0.0	0.0	0.0
Interest Income and Dividends	0.0	0.0	0.0	0.0
Amortization of Goodwill	0.0	0.0	0.0	0.0
Other Adjustments	0.0	0.0	0.0	0.0
Operating Profit Before Changes in Working Capital	0.0	0.0	0.0	0.0
Increase/(Decrease) in Receivables	0.0	0.0	0.0	0.0
Increase/(Decrease) in Inventory	0.0	0.0	0.0	0.0
Increase/(Decrease) in Payables (Excl. Interest and CIT)	0.0	0.0	0.0	0.0
Increase/(Decrease) in Prepaid Expenses	0.0	0.0	0.0	0.0
Changes in Trading Securities	0.0	0.0	0.0	0.0
Interest Paid	0.0	0.0	0.0	0.0
Corporate Income Tax Paid	-19.6	-896.5	-968.4	-2,451.0
Other Operating Receipts	0.0	0.0	0.0	0.0
Other Operating Payments	0.0	0.0	0.0	0.0
Net Cash Flow from Operating Activities	49,351.0	-11,390.6	-5,490.6	-4,309.7
Payments for Fixed Assets and Other Long-term Assets	-323.1	-96.6	-101.5	-180.7
Proceeds from Disposal of Fixed Assets and Long-term Assets	0.1	0.1	71.1	0.9
Loans and Purchases of Debt Instruments	0.0	0.0	0.0	0.0
Receipts from Loan Repayments and Sale of Debt Instruments	0.0	0.0	0.0	0.0
Investments in Other Entities	0.0	0.0	0.0	0.0
Proceeds from Investments in Other Entities	52.1	0.0	0.0	0.0
Dividends and Interest Income Received	40.1	16.4	59.8	2.9
Increase/(Decrease) in Term Deposits	0.0	0.0	0.0	0.0
Acquisition of Non-controlling Interests	0.0	0.0	0.0	0.0
Other Investing Receipts	0.0	0.0	0.0	0.0
Other Investing Payments	0.0	0.0	0.0	0.0
Net Cash Flow from Investing Activities	-213.7	132.9	-46.5	-176.9
Proceeds from Equity Issuance and Capital Contributions	0.0	0.0	0.0	0.0
Share Repurchases	0.0	0.0	0.0	0.0
Proceeds from Borrowings	0.0	0.0	0.0	0.0
Repayment of Borrowings	0.0	0.0	0.0	0.0
Repayment of Finance Leases	0.0	0.0	0.0	0.0
Dividends Paid	0.0	0.0	-4,466.7	0.0
Other Financing Receipts	0.0	0.0	0.0	0.0
Other Financing Payments	0.0	0.0	0.0	0.0
Net Cash Flow from Financing Activities	0.0	0.0	-4,466.7	0.0
Net Cash Flow During the Period	49,137.3	-11,257.7	-10,003.8	-4,486.6
Cash and Cash Equivalents at Beginning of Period	113,757.0	125,090.4	135,272.6	139,824.6
FX Difference from Revaluation	0.0	-319.5	-243.8	-65.4
Cash and Cash Equivalents at End of Period	163,213.8	113,757.0	125,090.4	135,272.6

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Financial Statements

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Balance Sheet

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